Macau wannabes risk being short of gamblers

Galaxy Entertainment

29/06/2023 03:33

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
       HONG KONG, June 29 (Reuters Breakingviews) - Japan and
the UAE will soon have legal casinos; Thailand may follow. In
theory Wynn, MGM and peers will have around $12 bln of new
annual revenue to play for, more than Macau has raked in this
year. But newcomers can’t rely on Chinese punters and their home
markets are untested.

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    CONTEXT NEWS
    Operators Galaxy Entertainment and MGM International Resorts
are studying the possibility of opening casino resorts in
Thailand, Bloomberg reported on June 2, citing sources. Thailand
is considering the legalisation of casinos, and lawmakers are
examining as many as 22 potential locations, the Nikkei
newspaper reported on Feb. 25.
    Japan granted final approval for its first casino resort,
operated by MGM and local partner Orix, in April after many
years of planning. 
    Wynn Resorts plans to build a luxury resort with a gaming
area in Ras Al Khaimah in the United Arab Emirates, the company
said on Jan. 23. On the same day, the Ras Al Khaimah Tourism
Development Authority said it had created a new Department of
Entertainment and Gaming Regulation to oversee "integrated
resorts".

 (Editing by Antony Currie and Thomas Shum)
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